Centralized Payment E... Entrusted Taiwan Loan
Cross-the-Strait Money Transfer
The Cross-the-Strait Money Transfer is a featured product of foreign exchange remittance. «First Sino Bank» tailored this product for Taiwan enterprises. It includes two-way money transfer of outward remittance to and inward remittance from Taiwan.
It accelerates the traditional remittance time from 2~3 banking days to 2 hours. It makes rapid funding of remittance to Taiwan, reduces the fund in transit, and improves the efficiency of customer's funds.
1. «First Sino Bank» has established correspondent relationship with 49 banks in Taiwan and formed correspondent bank network covering the entire Taiwan Island which ensures seamless money transfer across the straight.
2. The customer's fund may be remitted to or from Taiwan banks to ensure the rapid two-way fund transfer needs of the customer.
3. The USD remittance is completed within a maximum of 2 hours in the morning of Beijing Time, which is before the start of value date in the US.
4. It maximizes customer convenience. The fund may be cleared in US dollars in regions with US dollar as the functional currency, or be cleared in US dollar in Hong Kong to ensure the funding before the closing of value date.
How to Apply
1. The customer opens an international settlement account with «First Sino Bank».
2. The customer presents to «First Sino Bank» the remittance application and other relevant documents before 14:30 pm.
3. The customer supplies to «First Sino Bank» the correct, complete, and standard remittance instructions such as remittee account number, account name, and depository bank name.
1. Foreign exchange remittance collection: Free of charge.
2. Foreign exchange remittance: Remittance service fee (1 of the equivalent RMB amount of the foreign exchange remitted, minimum RMB 50 and maximum RMB 1,000) and communication fee (RMB 80 per transaction).